South Carolina Gov. Nikki Haley has signed into law a measure that earmarks an annual $91.4 million for transportation.
On June 24, the Republican governor signed H.3360, which stipulates the annual allotment. During the 2013-2014 fiscal year only, transportation could receive an additional $50 million if a surplus exists.
Haley said she was “troubled” the new law allows South Carolina’s Transportation Infrastructure Bank the power to prioritize projects from a list submitted by the state transportation department.
The legislation requires half of the motor vehicle sales tax be moved to the Highway Fund on a recurring basis, which will provide an estimated annual $41 million for infrastructure projects.
"Until a formal regulation is established with clear guidelines and borders ...